Getting the Best Rate
Getting the Best Rate
There are many factors that go into finding the best insurance rate for your trucking business. Being aware of this can help to get the most affordable premium.
- Owner’s credit score – Like many things in life your credit score can determine what rate you might pay on a loan or for insurance.
- Age and history of the business – While being in business for a few years might open up more insurance options, the history of the business will make a big difference. Having no claims and good scores with the DOT will give you the best opportunity to find the most affordable coverage.
- Drivers age and experience – While some insurance companies will allow brand new CDL drivers, most will want the drivers to have 2+ years CDL experience
- Payment history – Some insurance companies will factor if you pay on time each month into your future quotes
- Location of the business – Where you park your truck can have a very big impact on the price of your policy
- Uninsured motorists coverage, for costs resulting from an accident involving a hit-and-run driver or a driver who does not have insurance.